Bank of New York Mellon Corp Acquires 59,751 Shares of Arko Corp. (NASDAQ:ARKO)

Bank of New York Mellon Corp raised its holdings in shares of Arko Corp. (NASDAQ:ARKO) by 9.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 666,222 shares of the company’s stock after acquiring an additional 59,751 shares during the quarter. Bank of New York Mellon Corp’s holdings in Arko were worth $4,177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. CWM LLC grew its position in shares of Arko by 72.8% during the 2nd quarter. CWM LLC now owns 4,791 shares of the company’s stock valued at $30,000 after purchasing an additional 2,018 shares in the last quarter. Principal Financial Group Inc. bought a new position in Arko in the first quarter worth about $61,000. SG Americas Securities LLC bought a new position in Arko in the second quarter worth about $119,000. MQS Management LLC purchased a new stake in Arko in the first quarter worth about $132,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in Arko by 15.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 23,216 shares of the company’s stock worth $133,000 after purchasing an additional 3,092 shares during the period. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Arko Trading Up 5.1 %

Shares of ARKO stock opened at $6.36 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.06 and a debt-to-equity ratio of 3.97. Arko Corp. has a 12-month low of $4.09 and a 12-month high of $8.42. The stock has a market capitalization of $736.30 million, a P/E ratio of 24.46 and a beta of 0.45. The firm’s 50 day moving average is $6.23 and its 200 day moving average is $5.81.

Arko (NASDAQ:ARKO) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.07). Arko had a return on equity of 13.12% and a net margin of 0.39%. The business had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the prior year, the business earned $0.11 EPS. Research analysts expect that Arko Corp. will post 0.31 earnings per share for the current year.

Arko Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date was Monday, August 19th. Arko’s dividend payout ratio (DPR) is 46.16%.

Analyst Ratings Changes

Separately, Wells Fargo & Company increased their price target on shares of Arko from $5.00 to $6.25 and gave the company an “equal weight” rating in a report on Thursday, August 8th.

Arko Company Profile

Arko Corp. operates convenience stores in the United States. It operates through Retail, Wholesale, Fleet Fueling, and GPMP segments. The Retail segment engages in the sale of fuel and merchandise to retail consumers. Its Wholesale segment supplies fuel to third-party dealers and consignment agents. The Fleet Fueling segment supplies fuel to proprietary and third-party cardlock, and issuance of proprietary fuel cards.